Cuban banks

Cuban banks are few and far between.

The US dollar was once legal tender

In 1993, when the fall of the Soviet Union forced Cuba to open up tourism and foreign investment, the US dollar was legal in Cuba alongside the peso. Now US dollars in Cuba are not legal currency so they must be changed to CUCs (pictured below).

Under the embargo it is illegal for Cuba to use US dollars or for anyone anywhere to do business with the country in US currency.

Clinton looked the other way but Bush did not

Keep an eye on the daily news reports about new Cuba-US relations because there is no doubt that the restrictions in place on currency may change.

TIP

If you have a credit card issued by a US bank...

American Express is reviewing the new regulations regarding use of American credit cards in Cuba. They hope to soon allow customers this choice.

MasterCard and Visa are both accepted. You can use the Visa card in the few ATM bank machines. If one machine rejects your card, don't worry, try the one next to it. There is never an explanation about why some work and others do not.

Contact your bank before traveling to make sure that your card will be accepted in Cuba.